There’s a key component of venture capital that puts the soul in that kind of work: investing in people. Sheel Mohnot, founder of Better Tomorrow Ventures, understands this well when he’s picking which fintech companies to invest in. A University of Michigan graduate, Sheel has built his career on being able to identify founders who are willing to take risks and believe in themselves. Sheel joins Breaking Schemas co-hosts Marcus Collins and John Branch to chat about what investing in people looks like in action, Sheel’s philosophy for venture capital, and how a willingness to try things can lead to the most unexpected outcomes – like a Taco Bell-sponsored wedding. *Breaking Schemas is a production of the Yaffe Digital Media Initiative at Michigan Ross and is produced by University FM.*
There’s a key component of venture capital that puts the soul in that kind of work: investing in people.
Sheel Mohnot, founder of Better Tomorrow Ventures, understands this well when he’s picking which fintech companies to invest in. A University of Michigan graduate, Sheel has built his career on being able to identify founders who are willing to take risks and believe in themselves.
Sheel joins Breaking Schemas co-hosts Marcus Collins and John Branch to chat about what investing in people looks like in action, Sheel’s philosophy for venture capital, and how a willingness to try things can lead to the most unexpected outcomes – like a Taco Bell-sponsored wedding.
*Breaking Schemas is a production of the Yaffe Digital Media Initiative at Michigan Ross and is produced by University FM.*
Believing in better tomorrow
18:07: I believe that the future is easier, is making finance easier. Now, how we get there, I'm not exactly sure, but I believe in that future. And that future is a better tomorrow. Why we called the fund Better Tomorrow? It's like we're investing in a better tomorrow, better future for everyone around us.
And then there's a secondary meaning, which is we want to improve ourselves. We want to get better. “Next time I do this, it should be better than the time last time I did it.”
Do not be afraid to fail
08:59: If you're afraid of failure, you'll never do anything. And I think I've been fortunate that I was a little bit born with it—that I'm not afraid of failure. I know the worst thing that could happen is not that bad… [09:48] The reality is there are so many failures along the way. And you just can't let it get you down.
The crucial traits of founders
10:00: There are two things that I think of as super important founders. One is iterating. And so that's like trying stuff. And that's where this first thing that we're talking about comes in. And you have to just keep trying stuff, and eventually stuff will work. Something will work. But there are people who are just too afraid to try. That's when things don't work out with the founder. So I'd say now that we're on this topic, things that I think are important. So speed of iteration, what we're talking about, like trying stuff. And then tenacity—like you have to break through walls to make it happen. It's the other thing. Those two things, I think, are critical for founders.